Vertical-cavity Surface-emitting Lasers (VCSELs) Market to Reach $3.73 Billion by 2027 - Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®

LONDON, April 20, 2021 /PRNewswire/ -- According to a new market research report titled, "VCSEL Market by Type (Multi-mode VCSEL, Single-mode VCSEL), Material, Application, End User (Consumer Electronics, IT & Telecom, Industrial, Aerospace & Defense, Healthcare, Automotive), and Geography - Global Forecast to 2027," published by Meticulous Research®, the VCSELs market is expected to grow at a CAGR of 21.5% from 2020 to 2027 to reach $3.73 billion by 2027.

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Factors such as the wide application of VCSELs in vehicle automation and the growing demand for VCSELs for use in emerging technologies are expected to create growth opportunities for the players operating in the VCSELs market during the forecast period. Lumentum Operations LLC (U.S.), II-VI Incorporated (U.S.), ams AG (Austria), Broadcom (U.S.), TRUMPF (Germany), Osram GmbH (Germany), IQE PLC (U.K.), VERTILAS GmbH (Germany), Vertilite (China), FLIR Systems, Inc. (U.S.), Thorlabs, Inc. (U.S.), Leonardo S.p.A. (Italy), TT Electronics (U.K.), Photonwares Co. (U.S.), and Inneos LLC (U.S.) are the key players operating in the global VCSELs market.

The VCSELs (vertical-cavity surface-emitting lasers) market is driven by factors such as the high adoption of VCSELs for 3D sensing applications and the growing use of VCSELs in data centers. 3D sensing is the largest application of VCSELs in mobile devices. In recent years, several companies have integrated VCSELs in smartphones for facial recognition applications. Other sensing applications of VCSELs are in automotive manufacturing. VCSELs are used in semi- and fully autonomous vehicles for 3D sensing. VCSELs have emerged as a cost-effective technology for advanced driver assistance systems (ADAS) and in-cabin sensing. Growth in data centers is also one of the major driving factors for the VCSELs market. VCSELs are used in data centers for high-speed transmission of data. Emerging technologies such as the Internet of Things (IoT), Big Data, and cloud computing further augment the proliferation of data centers, driving the growth of the VCSELs market.

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Based on type, the VCSELs market is segmented into multi-mode VCSELs and single-mode VCSELs. In 2020, the multi-mode VCSELs segment accounted for the larger share of the overall VCSELs market. The growing usage of VCSELs in data communication is expected to boost the demand for multi-mode VCSELs during the forecast period. VCSELs are mainly used for high-speed short-distance communication among users. The proliferation of mobile devices has increased the generation of content due to the rise in data exchange among users. VCSELs can transmit vast data up to a range of 100 meters at high speeds. Most data centers using VCSEL technology operate at 850nm over multi-mode optical fiber to fulfill their future bandwidth requirements.

Based on material, the VCSELs market is segmented into Gallium Arsenide, Gallium Nitride, Indium Phosphide, and other materials. In 2020, the Gallium Arsenide segment accounted for the largest share of the overall VCSELs market. Due to their direct bandgap, high electron mobility, low noise, and high conversion efficiency; Gallium Arsenide-based VCSELs are used for long-distance applications. They are also used in various other applications, such as high-speed data transmission, high-resolution printing, and pumping of solid-state and fiber lasers.

Based on application, the VCSELs market is segmented into sensing, data communication, industrial heating, laser printing, LiDAR, pulse oximetry, and other applications. The sensing segment accounted for the largest share of the overall VCSELs market in 2020. The sensing segment has been further segmented into 3D sensing, gas sensing, and optical mice. 3D sensing is extensively used in consumer electronics and automotive sectors. Under consumer electronics, VCSELs are used in smartphones for facial recognition, gesture recognition, and Animojis, among other applications. The automotive industry uses VCSELs for in-cabin driver and passenger monitoring, driver assistance, and object recognition. Various automotive companies have started adopting this technology for measuring distances between vehicles and objects. Many technology companies combine 3D sensors, software, and algorithms to enhance the end-user experience. VCSELs are used for indoor navigation, collision avoidance, iris scanning, tracking, gesture recognition, surveillance of target zones, and enhancing 3D photography.

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Based on end user, the VCSELs market is segmented into consumer electronics, IT & telecom, industrial equipment manufacturing, aerospace & defense, healthcare, and automotive. The consumer electronics segment held the largest revenue share in 2020. The advantages of VCSEL technology in consumer electronics applications have encouraged many companies to integrate VCSELs in their products. The growing use of advanced VCSELs in laser autofocus and proximity sensors for consumer electronics has boosted the demand for VCSELs globally. VCSELs find wide applications in 3D sensing, face recognition, camera fill light, smart wearables, etc. The integration of VCSELs in VR/AR headsets has introduced new shopping, gaming, and reading experiences for users.

Based on geography, the VCSELs market has been segmented into North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. In 2020, North America commanded the largest share of the global VCSELs market, followed by Europe. However, Asia-Pacific region is expected to record the highest CAGR during the forecast period. The rapid growth of the APAC market can be attributed to factors such as the large consumer electronics industry (both in terms of supply and demand), various ongoing autonomous vehicle projects in the region, and the high proliferation of data centers in countries such as China, Singapore, India, and many Southeast Asian countries.

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Report Scope-

VCSEL Market, by Type

• Multi-mode VCSEL
• Single-mode VCSEL

VCSEL Market, by Material

• Gallium Arsenide
• Gallium Nitride
• Indium Phosphide
• Other Materials

VCSEL Market, by Application

• Sensing
• 3D Sensing
• Gas Sensing
• Optical Mice
• Data Communication
• Industrial Heating
• Laser Printing
• LiDAR
• Pulse Oximetry
• Other Applications

VCSEL Market, by End User

• Consumer Electronics
• IT & Telecom
• Industrial
• Aerospace & Defense
• Healthcare
• Automotive

VCSEL Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
• Asia-Pacific (APAC)
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa

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